Public Sector Pension Investment Board Sells 11,900 Shares of Grocery Outlet Holding Corp. (NASDAQ:GO)

Public Sector Pension Investment Board trimmed its holdings in Grocery Outlet Holding Corp. (NASDAQ:GO) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,858 shares of the company’s stock after selling 11,900 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Grocery Outlet worth $3,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Blueshift Asset Management LLC purchased a new stake in shares of Grocery Outlet in the third quarter worth approximately $227,000. BNP Paribas Financial Markets raised its position in Grocery Outlet by 14.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 165,480 shares of the company’s stock valued at $2,904,000 after buying an additional 20,914 shares during the last quarter. Bank of Hawaii bought a new position in Grocery Outlet during the 3rd quarter valued at $370,000. Cerity Partners LLC boosted its holdings in Grocery Outlet by 887.1% during the 3rd quarter. Cerity Partners LLC now owns 105,675 shares of the company’s stock worth $1,855,000 after acquiring an additional 94,969 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Grocery Outlet by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,170,470 shares of the company’s stock worth $20,542,000 after acquiring an additional 147,312 shares in the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Grocery Outlet Stock Performance

Shares of GO stock opened at $19.98 on Tuesday. Grocery Outlet Holding Corp. has a 12 month low of $13.60 and a 12 month high of $29.80. The stock has a market capitalization of $1.94 billion, a P/E ratio of 39.18, a PEG ratio of 5.28 and a beta of 0.13. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $17.29 and its 200 day moving average is $19.06.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Grocery Outlet Holding Corp. will post 0.63 earnings per share for the current year.

Insider Activity at Grocery Outlet

In other Grocery Outlet news, Director Erik D. Ragatz bought 110,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the purchase, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. The trade was a 25.59 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Jr. Lindberg sold 200,095 shares of Grocery Outlet stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now owns 70,938 shares of the company’s stock, valued at approximately $1,155,580.02. This trade represents a 73.83 % decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on GO. Loop Capital began coverage on shares of Grocery Outlet in a research report on Thursday, October 17th. They set a “hold” rating and a $17.00 target price on the stock. Roth Capital upgraded Grocery Outlet from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Craig Hallum reduced their price objective on Grocery Outlet from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Grocery Outlet from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, TD Cowen lowered shares of Grocery Outlet from a “buy” rating to a “hold” rating and reduced their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.00.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.